Dundee Precious Metals Inc. (TSX:DPM) today reported high-grade copper-gold-silver intercepts from its ongoing Serbian exploration program, including the Dumitru Potok prospect. Results included an intercept of 131.6 metres grading 3.93% CuEq, comprised of 1.53% Cu, 2.41 g/t Au and 12 g/t Ag from 1,126 metres and 76 metres at 2.47% CuEq, comprised of 1.01% Cu, 1.43 g/t Au and 10.37 g/t Ag from 1,277 metres downhole at hole DPDD032. This represents one of the most significant intercepts at Dumitru Potok to date and displays more than 250 metres of continuous skarn alteration and mineralization downhole.¹

The Company reported exploration results from its Rakita North and Frasen target delineation programs. Across the Rakita camp, the Company completed approximatively 45,000 metres and 70 drillholes year-to-date, with 15 drillholes in progress.

DPM expects to report three maiden Inferred Mineral Resource estimates by year-end 2025 for the Dumitru Potok, Rakita North and Frasen prospects, and is continuing additional scout drilling on the Potaj Čuka and Pešter Jug licences.

Drilling Results Highlights (Refer to Tables 1, 2 and 3 for full results)

• DPDD032: 131.6 metres grading 1.53% Cu, 2.41 g/t Au and 12 g/t Ag from 1,126 metres downhole, including 71 metres grading 2.52% Cu, 3.97 g/t Au and 19.3 g/t Ag and 76 metres at 1.01% Cu, 1.43 g/t Au and 10.37 g/t Ag from 1,277 metres downhole at Dumitru Potok.
• RADD055A: 159 metres grading 0.70% Cu, 0.48 g/t Au and 2.04 g/t Ag from 438 metres downhole, including 8 metres grading 1.30% Cu, 0.83 g/t Au and 3.20 g/t Ag from 533 metres downhole and, including 12 metres grading 1.17% Cu, 0.88 g/t Au and 1.60 g/t Ag from 561 metres downhole at the Rakita North prospect.
• RADDGTH009: 194 metres grading 0.48% Cu, 0.29 g/t Au and 1.59 g/t Ag from 1,072 metres downhole, including 15 metres grading 1.40% Cu, 0.79 g/t Au and 3.60 g/t Ag from 1,222 metres downhole and 12 metres grading 1.76% Cu, 0.93 g/t Au and 2.80 g/t Ag from 1251 metres downhole at the Rakita North prospect.
• BIDD242: 188 metres grading 0.89 g/t Au and 0.24% Cu from 105 metres downhole at the Frasen porphyry prospect.

“We continue to be excited by the impressive drill results at Dumitru Potok. The Rakita camp is clearly demonstrating the existence of a large copper-gold system, analogous to other large porphyry-skarn systems globally, and remains largely untested,” said David Rae, President and Chief Executive Officer of DPM.

“Located adjacent to planned Čoka Rakita infrastructure, Dumitru Potok has the potential to unlock additional value and growth potential for an already high-margin, high-return organic project. We are targeting resource estimates for the Dumitru Potok, Rakita North and Frasen targets by year-end. We are also increasing our exploration budget to extend the scout drilling program, targeting additional high-potential areas within the six-kilometre trend we have identified to date.”

Dumitru Potok prospect

Drilling during the 2025 exploration program continues to produce high-grade intercepts as seen in DPDD032. A daughter drillhole to DPDD032, identified as DPDD032B, is currently in progress and further extends the mineralization for approximatively 50 metres south of DPDD032, intersecting similar strong skarn mineralization. Drillholes DPDD032 and DPDD032B extend mineralization approximatively 200 meters south of DPDD026, which previously reported 115 metres grading 1.47% Cu, 2.73 g/t Au, and 9.69 g/t Ag.²

As a result, exploration drilling has expanded the proximal manto and contact skarn high-grade copper-gold-silver mineralization along both flanks of the causative intrusion for approximately 450 metres of strike length with vertical development of more than 300 metres and thickness of 50 to 100 metres as inferred from geology and drillhole data. The upper stratabound-manto mineralization extends by a further 500 metres from the causative intrusion and more than one kilometre of strike length with indications of probable continuity towards Frasen to the west, Rakita North to the south and Valja Saka to the north. The copper-gold-silver mineralization remains open in multiple directions and additional drilling is ongoing with seven rigs currently active on the project.

Table 1. Drill holes results from the target delineation drilling campaign testing stratabound and marble-intrusive contact skarn targets at Dumitru Potok and Frasen.

1) Coordinates are in UTM Zone 34 North WGS84 datum.

2) Intervals are reported at a cut-off grade of 0.5% CuEq using 5 metres minimum length and 10 metres maximum internal dilution. Higher grade sub-intervals denoted with ‘including’ are reported at a cut-off grade of 2% CuEq using 5 metres minimum length and 5 metres maximum internal dilution.

3) The CuEq calculation is based on the following formula: Cu % + Au g/t x 0.95 + Ag g/t x 0.01 based on a copper price of $3.85 /lb, gold price of $2,600/oz and silver price of $26/oz; and assumes metallurgical recoveries of 90% all metals within the equivalency calculation. Metallurgical assumptions are based on initial floatation testwork completed on the stratabound hosted Cu-Au-Ag mineralization at Dumitru Potok and ongoing metallurgical testing.

4) No upper cuts have been applied.

5) Based on the limited understanding of the geometry of the mineralized body, true widths are considered to be 90% or more of the reported downhole interval, assuming strata-bound control on the mineralization. For hole DPDD032 the true width cannot be evaluated at this time without additional infill drilling data.

6) Daughter holes identified with “A” (e.g., DPDD032A) are navigational holes with collar coordinates and depth indicating the exit point from the parent hole.

Rakita North prospect

New drill results proximal to Čoka Rakita’s planned underground development continue to expand marble-hosted copper-gold-silver mineralization, with continuous intervals higher-grade mineralization identified further east of previously known extents. The current prospect footprint is approximately 500 metres by 450 metres with vertical development up to approximately 300 metres. The higher-grade mineralization at Rakita North is a combination of manto-like skarn mineralization on the upper and lower contact, as well as more discrete stratabound skarns and structurally controlled subvertical stockwork veins over the entire marble lithological package. Mineralization remains open in multiple directions and additional drilling is ongoing with three rigs currently active. One of the three drill rigs has been mobilized east of Rakita North at a larger-than-average step out distance to test a large geophysical anomaly contemplated as a potential fertile, causative intrusion within this prospect area.

Table 2. Drill holes results from the target delineation drilling campaign testing the copper-gold-silver marble hosted targets at Rakita North.

1) Coordinates are in UTM Zone 34 North WGS84 datum.

2) Intervals are reported at a cut-off grade of 0.5% CuEq using 5 metres minimum length and 10 metres maximum internal dilution. Higher grade sub-intervals denoted with ‘including’ are reported at a cut-off grade of 2% CuEq using 5 metres minimum length and 5 metres maximum internal dilution.

3) The CuEq calculation is based on the following formula: Cu % + Au g/t x 0.95 + Ag g/t x 0.01 based on a copper price of $3.85 /lb, gold price of $2,600/oz and silver price of $26/oz; and assumes metallurgical recoveries of 90% all metals within the equivalency calculation. Metallurgical assumptions are based on initial floatation testwork completed on the stratabound hosted Cu-Au-Ag mineralization at Čoka Rakita North and ongoing metallurgical testing.

4) No upper cuts have been applied.

5) Based on the limited understanding of the geometry of the mineralized body, true widths are considered to be 90% or more of the reported downhole interval, assuming a strata-bound control on the mineralization.

Frasen skarn and porphyry prospect

Target delineation drilling following up on the shallow copper-gold porphyry mineralization encountered at drillhole BIDD224 (which intersected 190 metres at 0.35 g/t Au and 0.16% Cu from 8 metres downhole and 184 metres at 0.48 g/t Au and 0.18% Cu from 308 metres downhole) defined additional mineralization over a footprint of approximately 200 metres by 400 metres with a vertical extent of at least 400 metres from surface. Mineralization is associated with well-developed stockwork porphyry veins hosted in a causative, strongly potassic altered diorite porphyry intrusive. Drillhole BIDD242 returned the best intercept to date at Frasen, with consistent gold-rich porphyry copper mineralization over 188 metres grading 0.89 g/t Au and 0.24% Cu. Drillholes BIDD241, BIDD242 and BIDD247 have been extended at depth to further delineate strata-bound manto-like mineralization at the lower and upper marble contacts west of the Frasen porphyry target, with notable intercepts from this mineralization style reported earlier in Table 1.

Table 3. Drill holes results from the target delineation drilling campaign testing the Frasen copper-gold porphyry target.

1) Coordinates are in UTM Zone 34 North WGS84 datum.

2) Intervals are reported at a cut-off grade of 0.3% AuEq using 5 metres minimum length and 10 metres maximum internal dilution. Higher grade sub-intervals denoted with ‘including’ are reported at a cut-off grade of 0.5% AuEq using 5 metres.

3) The AuEq calculation is based on the following formula: Au g/t + Cu % x 1.06 based on a copper price of $3.85 /lb, gold price of $2,600/oz; and assumes metallurgical recoveries of 85% both metals within the equivalency calculation.

4) No upper cuts have been applied.

5) Based on the limited understanding of the geometry of the mineralized body true widths cannot be calculated at this time.

Next steps

In light of these encouraging results, DPM has increased its planned spending related to the Serbian exploration program to approximately $28 million to $30 million, from the previous guidance of between $23 million and $25 million, and plans to drill an additional 15,000 to 20,000 metres by the end of the year. The Company’s intensive camp-wide exploration campaign is ongoing, with 15 drill rigs deployed across the Rakita camp. The focus for the balance of the year will be completing the target delineation drilling programs at Dumitru Potok, Rakita North and Frasen, to support of the maiden Inferred Mineral Resource estimates, and pursuit of multiple targets on the Potaj Čuka and Pešter Jug licences.

Ongoing Stakeholder Engagement

Consistent with the approach across all operations, DPM seeks to build and maintain strong partnerships with local communities and governments. The Company has had a local presence in Serbia since 2004 and has developed strong relationships in the region and will continue to proactively engage with all stakeholders as the Čoka Rakita project and additional exploration activities advance.

Figure 1. Project scale map highlighting the updated targets and results from the ongoing target delineation drilling.

Figure 2. Snapshot of 3D targeting model looking west displaying the positions of different geological targets relative to the Čoka Rakita orebody and the planned underground development pre-feasibility study design, as well as highlights from the reported intercepts. The target shapes were generated using currently available drilling information, which provides limited geological understanding and may change as additional drilling is conducted.

Sampling, Analysis and QAQC of Exploration Drill Core Samples 

Most exploration diamond drill holes are collared with PQ size, continued with HQ, and are sometimes finished with NQ and BQ diameters. Triple tube core barrels and short runs are used whenever possible to improve recovery. All drill core is cut lengthwise into two halves using a diamond saw: one half is sampled for assaying and the other half is retained in core trays. The common length for sample intervals within mineralized zones is one metre. Weights of drill core samples range from three to eight kilograms, depending on the size of core, rock type, and recovery. A numbered tag is placed into each sample bag, and the samples are grouped into batches for laboratory submission.

Drill core samples are shipped to the Company’s own exploration laboratory in Bor, Serbia, which is independently managed by SGS. SGS methods and procedures are accredited at SGS hub labs and independent internal lab QAQC check samples are sent to an SGS accredited laboratory. The Bor lab also participates in SGS monthly Round Robins, and other international Round Robins. Quality control samples, comprising certified reference materials, blanks, and field duplicates, are inserted into each batch of samples and locations for crushed duplicates and pulp replicates are specified. All drill core and quality control samples are tabulated on sample submission forms that specify sample preparation procedures and codes for analytical methods. For internal quality control, the laboratory includes its own quality control samples comprising certified reference materials, blanks and pulp duplicates. All QAQC monitoring data are reviewed, verified and signed off by an independent QAQC geologist. This includes review and verification to all internal and external QAQC data and evaluation of assays quality and reporting of lab performance on a monthly basis. Chain of custody records are maintained from sample shipments to the laboratory until analyses are completed and remaining sample materials are returned to the Company. The chain of custody is transferred from the Company to SGS at the laboratory door.

At the SGS Bor laboratory, the submitted drill core samples are dried at 105°C for a minimum of 12 hours and then jaw crushed to approximately 80% passing four millimetres. Sample preparation duplicates are created by riffle splitting crushed samples on a 1-in-20 basis. Larger samples are riffle split prior to pulverizing, whereas smaller samples are pulverized entirely. Pulverization specifications are 90% passing 75 microns. Gold analyses are done using a conventional 50-gram fire assay and AAS finish. Multi-element analyses for 49 elements, including Ag, Cu, Mo, As, Bi, Pb, Sb, and Zn, are done using a four-acid digestion and an ICP-MS finish at SGS Bor and SGS Ankara laboratories. Samples returning over 10 ppm for Ag and 1% for Cu, Pb or Zn are analyzed with AAS finish. Sulphur is analyzed using an Eltra Analyzer equipped with an induction furnace. This includes review and verification to all internal and external QAQC reports, sampling procedures and chain of custody, assays accuracy and consistency in terms of errors and sensitivities. Also include 3D evaluation of data sampling and geological context and accuracy of the technical information provided in this report.

Technical Information

Ross Overall, Director, Corporate Technical Services of the Company, who is a Qualified Person as defined under NI 43-101, and Paul Ivascanu, Vice President Exploration of the Company, have reviewed, and approved the scientific and technical content of this news release. Mr. Overall has verified the accuracy of the information presented in this disclosure. This included verification to ensure all results reported in the disclosure have passed QAQC protocols as well as comparison of assay data with geology, alteration and mineralization logging data.

About Dundee Precious Metals Inc.

Dundee Precious Metals Inc. is a Canadian-based international gold mining company with operations and projects located in Bulgaria, Bosnia and Herzegovina, Serbia and Ecuador. Our strategic objective is to become a mid-tier precious metals company, which is based on sustainable, responsible and efficient gold production from our portfolio, the development of quality assets, and maintaining a strong financial position to support growth in mineral reserves and production through disciplined strategic transactions. This strategy creates a platform for robust growth to deliver above-average returns for DPM shareholders. Effective September 12, 2025, the Company will change its name to DPM Metals Inc. DPM’s shares are traded on the Toronto Stock Exchange (symbol: DPM).

For further information please contact:

Jennifer Cameron
Director, Investor Relations
Tel: (416) 219-6177
jcameron@dundeeprecious.com